- Paul Bannon
Are we returning to 70's inflation
High inflation and rapidly increasing energy costs have all the hallmarks of the stagnant 1970's and early eighties. Energy bills are set to soar and the economy is in turmoil, belts need to be tightened and a pragmatic approach to our finances has to be observed to avoid falling off the edge into the abyss.
It is important to explore what help you can receive. Are you receiving all the benefits that you are entitled?
Draw up a budget to take a close look at your debts, what you are earning , spending and saving.
The soaring cost of living has forced lots of us to take on more debt. We borrowed £800 million more in consumer credit in October 2022. Including £400 million on credit cards. A short term cash loan at fair value from Valley Finance can help with a quick and easy loan.
Fears of more interest rate increases , further pushing up repayments, might prompt people to reign in their spending. Even more so as the prospect of recession looms. Only 12% of higher earning households are resilient when it comes to future debt repayments. compared to 64% of lower incomes.